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the white house won't deliver its own budget in time and still wants to raise more taxes. we're about to hear a response from a republican house member. >>> that's not all. fed chief ben bernanke is saying it must raise the debt ceiling and that the fed is going to keep buying bonds for now. on this one-month anniversary of the heinous, awful newtown shootings, the sheriff comes out in favor of banning assault weapons. "the kudlow report" begins right now. >>> first up tonight, president obama slams the republicans. he says no gimmick, no magic coins. just the plain old standoff on the debt ceiling. who is gonna blink first in this? john harwood joins us from washington with the details. good evening. >> good evening. the president used the last news conference of first term to draw an ever-brighter line with congressional republicans on the debt ceiling. they say they want dollar for dollar spending cuts to be matched with an increase in the debt ceiling. the president said i'll negotiate with you, but not over the debt ceiling. he simply is not going to allieu republicans to take th
wanted to make a comment about the tax code system. it's so complicated. i think that the government wants to do something to help out the economy, they could institute a fair tax or a flat tax, something like the libertarian candidate gary johnson was advocating last year where if you buy something you just pay the tax on it, there is no more income tax or corporate tax but a consumption type flat tax. host: do you think that would work? caller: i think that would eliminate all these loopholes people take twn tax code system. if you're married, own a house, have children, you get all these deductions and if you don't have any of those things, then you don't get to take any of those deductions so it's just not fair. if your income comes from capital gains there is a different tax rate for you. if the government wants to help bring the economy back, make everything fair across the board as far as taxes go. host: thanks for the call. we welcome our listeners and our focus this morning the role of government in solving america's problems. it was something that dwight eisenhower talked a
to hire the energy commission. california became the leader in energy efficiency. we put in tax credits and policies of the public utilities commission to favor alternative energy, independent power production. which is obvious today. when they promoted code- generation it was something very novel. 30 years ago. now you have a different name for a period in his third party power production using power in a driving way to recapture the most efficient way. innovation is important. i have to also, every time we heard the word innovation, i have to put a plug in for tradition. i have a very traditional education. i spent a lot of years in silence speaking latin up in the hills, living within the medieval framework. i do respect the past. we study it. if you are grounded in tradition, you feel quite confident in change and innovation. if you are insecure, you are very reluctant to embrace the unknown. i do think we need to in our education and politics, we have to have a new appreciation for our traditions and the patterns that describe our culture and our being as americans. having said all
will you join me in my thinking our panelists. [applause] representative live in discusses tax policy and deficit reduction. he spoke at the briefing today hosted by the christian science monitor for an hour. >> thanks for coming. i'm dave cook from the monitor. welcome to the first breakfast of the new year. the guest is representative sander levin of michigan cranking member of the house ways and means committee. this is the first visit of the group. he did for deily to detroit native and the university of chicago, master's and international relations of columbia and a law degree from harvard who was elected in the michigan state senate in 1964 and served as a senate minority leader during the carter administration he was assistant administrator of the agency for international development elected to the house in 1982. for four years after his brother carl was elected to the senate. in march, 2010, representative levin one the gavel of the chairman of the ways and means committee. in the biographical portion of the program now on to the thrilling portion. as always we are on the reco
problems that get thrust upon them as a consequence of diminished tax bases and the consequence of housing, the significant portion of the public and their states that are in most need. we're committed to having a third phase of the so-called big deal on the budget. we're of the view that just as it took during the clinton administration, it didn't happen in one fell swoop to get our economy in great shape and move toward a balanced bump started off with three phases. started with president bush's actions, the first president bush, in terms of taxation, before president clinton took office. then the actions the president took in '94 and then in '97. well, we think there's a third phase here that can set our country on a path that will allow us to get our debt, the gdp, our deficit to gdp, down around 3%, which is the basis of which all economists left, right, center, agree, are the areas which we really can begin to grow as a country. and also my grandfather used to say, with the grace of god and good will of the neighbors, cooler heads will prevail between now and the time we deal with th
. it is within our reach to strengthen marriages and families. it is within our reach to reduce taxes. it is within our reach to lead in job growth and energy independence. it is within our reach to balance our budget and meet the needs of our people. our place, kan., must show the path, the difficult path for america to go in these troubled times. .. the and >> we and shannon >> thank you. >> that was governors sam brownback with the state of the state address. we now go to senator anthony headley for the democratic response to enact we have been talking that the string that we have time. we have talked about how i have a dream. we will somehow realizes principles and the declaration of independence. i think he was just inspired by that moment. >> sunday on "after words", clairborne carson recalls his march on washington. it is part of three days of the tv this weekend on monday featuring authors and books from the inauguration. president obama, and martin luther king jr. >> every weekend latest nonfiction authors and books are featured on booktv. you can see past programs and schedu
, what you tax and so on are very difficult and contentious decisions that will take some time to address. >> well, those is to use -- those issues of course are not the specific purdy of the fed, and so why do we shift gears and talk more specifically about some things that the fed is doing and things that the fed might do. perhaps a way to introduce that is to say that the fed of course is keeping interest rates at close to zero since roughly 2008, and it dug pretty deep into its arsenal, more recently in terms of in particular the very massive asset purchases recently launched its third round, which are intended to bring long-term interest rates. can you tell us how well you think that is working? >> so, to go back just one step, as you said we have brought the short-term interest rate down almost to zero, and for many, many years monetary policy just in bald moving the short-term, basically overnight interest-rate up and down and hoping that the rest of the interest rates would move in sympathy. then we had a situation in 2008 where we are brought the short-term rate down about as far
is it will increase -- by not raising the debt ceiling, you should be able to raise taxes on the wealthy, making $200,000 a year or more. host: ok. anthony in greensboro, north carolina, independent. caller: good morning. i have done quite a bit of research on the debt. what i don't hear from anybody, whether from the politicians or people asking questions, is the fact that the united states over the last 10 or 15 years has overwhelmingly started bases all over the world. over 1200 bases. and i cannot get a direct answer to actually how many. each would bring in the amount of money well over $1 trillion in just the maintenance. along with that, on the far side, after deep search, i discovered that the united states in the last eight years, since 1998, i believe, through nasa, they have come to believe in some kind of solar scenario along with an economic scenario and have been spending a lot of money in creating bases or underground cities in preparation, which is understandable, as any other nation, including japan and china have been doing themselves. host: next we will hear from a democratic calle
. >> not the last question. >> i'm sorry, francine. [inaudible] >> everything you run out of tax reform process has been out with a has to measure to make them maybe not impossible, but much less likely to tax reform goes forward this year. is that basically what you believe? if you could say a word about why tax reform should go forward. what do you see as the upside of that? >> i'm not saying that. what i'm saying is they think we took seems that do not package they have some ramifications tax reform. but i am not saying that we shouldn't sit down and talk about how we look at our tax structure and how we reform it. it's a fact that by what we thought it, but it isn't anything close to the whole package. i think what it does is to force people to be more concrete about what they mean when they took about tax reform. let me just give you an example. some of the provisions that we have been training and retraining, some of them are in appropriation and some of them are in the tax structure. i think we can take a hard look at all of our training programs. some of them aren't about to taxation. i thi
authority is necessary. but there are some others. >> guest: some other examples. let's take corporate tax. it seems likely there will be a year long debate about corporate taxation here in washington in 2013. most businesses are global in some respect. not all but most big businesses for sure. if you're a big business and you look over to champion you'll -- over to china, you'll see promises to have 15% corporate income tax rate. you come the united states, you have no predictable, don't know what it is, and the current rate is much, much higher than that. we need reforms that say to businesses, we want you to invest here in the united states. while we're having this big debate about corporate tax reform, let's include in it specific reforms for the energy sector that in fact are designed to attract a maximum amount of new investment to build a clean energy platform let's have it by a subpart of the corporate tax reform debate. another example? the carbon tax. the carbon tax is a broad-based tax that does not in fact have to have a big impact on consumers. it could be placed on electric u
and said it much better than i will, in fact, maybe if you had it on tape, we'd show it. but tax policy and trade policy. obviously, as the recession hits the world, why, trade policy gets more difficult. and we have troubles getting products into two of our most fast-growing markets, in argentina and brazil, which we could use some government help on keeping those markets open. and, of course, the big one is tax policy. we have the highest corporate tax rate in the world. so that mark barker who is now the ceo of the company and for a young whippersnapper of 55, he's doing a great job, but that he sits every year when he sets the budget, and he has to decide where the last dollar of investment goes. and where it generates the last dollar of profit. so he could get a dollar of profit in the united states for which 60 cents goes out to the shareholder, to the ultimate shareholder. or he can get another dollar, he can get that dollar profit in timbuktu of which 75 cents comes to the average shareholder. so any global company can maneuver around it, procter & gamble does that, i'm sure, be
their fair share of taxes. he's just another elitist hypocrite when it comes to a fair share of security. protection for their children and gun-free zones for our kids. host: that the latest ad by the nra, put out yesterday, getting a lot of feedback about the ad invoking the president's children. the "washington times" has this headline this morning about president obama's event this morning. that is our question for all of you. if president obama acts on his own with executive action, do you support that idea? we're getting your take on that this morning. we will go to sandra in sulphur springs, texas, a republican. caller: how are you? i just have a question to ask the rest of the people listening. what about the fort hood shootings? has anybody thought about how many guns were there? the man walked in, he was a psychologist, he walked in and killed our soldiers at fort hood. . what is the gun ban going to do on that? what does obama think about that? host: what do you think about the president taking some actions on his own? caller: i don't think anybody ought to take our guns away.
with this initiative. congress and the administration should begin conversation about a broad-based carbon tax. this would give the right signals on energy sources and use. it could raise money to reduce the deficit, restore our infrastructure, speed and finance conservation. there are a number of other commonsense steps that would make progress on carbon pollution and energy conservation goals more significant. the epa should stop dragging its feet permitting old coal plants to continue to spew forth toxic waste, harming the environment and the health of our citizens. it is past time the clean air act reinforced. make sure there are proper safeguards for the cracking technology. make sure this reservoir of inexpensive gas does not undercut the addition of renewables to our energy portfolio. solar, wind, geothermal. dership on these technologies for a balanced energy portfolio and ultimately to reduce our carbon footprint. at each step, we should be looking to enhance energy conservation, because the cheapest kilowatt hour is one that you don't have to generate. we should have a 10-year glide
it to the tax base and locate it from a regional perspective but also a national perspective when you look at it. 30% of the nation's gdp comes from the gulf coast. if the five gulf states were a nation it would rank seventh globally. if you look the population increase there's been 109% increase in the population in gulf region. nationally about 52%. the people are there. the vol nebilities are will but also the significance in terms what it provides to the nation. i think from the state's perspective and also from the gulf we recognize that healthy echo systems also can mean healthy economies. and from louisiana what we have taken, what we believe is a very good first effort in addressing both the vulnerability that exist with the state's master plan has which is is a long-term plan addressing the ecological but reducing the risk across the coast. we believe we can achieve a 100-year protection for the community it's the resources that important. the ecological resource that's state provides and the gulf provides to the nation that if it's going to be afforded through the nation it has to prov
this coming term if we move towards any tax reform measures. senator john tester since 2007, just looking at all of the members of the delegation that are here and there we are seeing more of the some 200 animals that we've been hearing so much about. >> you can mark four off the list. >> exactly. >> senator tester is glad to be in this parade. he got re-elected. >> after a tough battle, that's for sure. >> this is the wind river dancers, the wind river reservation all the way from wyoming. they are here to honor all of us with their performance. $6,000 short of their scaled-down fundraising. they are marching anyway and doing an excellent, excellent job. right now i want to welcome our viewers in the united states and around the world. i'm wolf blitzer here in washington, d.c. we're right across from the president of the united states on the reviewing stand. there it is, the reviewing stand on the north lawn of the white house. kate bolduan is here, jim acosta is here and we're in "the situation room," a special edition of the situation room watching the wind river dancers from the wind
, pay taxes, do all the other things. we transferred one of our cars to one of our sons here recently. we had to go through the motor vehicle department transfer, whatever. why somebody should be able to go into a gun show and buy any kind of a thing without any kind of the background check you might have otherwise, at least -- i -- at least not an enforceable one, i can't understand that. i really can't. i think we should have stricter background checks. i think they should be real ones. if you have the restraining orders on you, other things, we ought to be able to do that. i realize every state's different. vermont has virtually no gun laws. you can carry loaded concealed weapon in vermont this afternoon if you were there with no permit. we also have one of the lowest crime rates in the country but not because of that. we are as a society we are very law-abiding, but would that stop somebody who is mentally unhinged from going out and using a gun, knife, or anything else to kill people? no. the president's right when he says there are a whole lot of factors involved. i'm anxious to
. >> greta: taxes and have you thought about our corporate tax rate? >> could have,we have the highest corporate tax rate in the entire world now. japan used to be number one and u.s. number two. they cut their rates and now when you combine state and federal taxes, the highest corporate tax rates in the world. >> greta: how does that affect your business? you're very successful, you're a rich man and how does it affect you and your employees. >> every dollar we pay in taxes is a dollar that we can't give back to the customers in lower prices, a dollar we can't pay to our team members and higher wages and benefits. it's a dollar that we can't give back to the suppliers with lower prices. it's a dollar that we can't donate fill v-- fi -- and you need to hear this next, but the headlines are screaming scandal. a new cheater joining the ranks of tiger woods, arnold schwarzenegger and kristin stewart. who is it? well, that's coming up. and in two minutes, a 16-year-old is drunk driving and a mother finds a public way to punish him. is she teaching him a good lesson or going too far? you se
look at president clinton's second term he made progress on deficits and ronald reagan, tax reform. >> even if they're dealing with other problems. >> and we have been fortunate to want to continue that but you if look, it's not like we're roaming around the west wing looking for things to do. right now in front of congress and the country you have the need to reduce the deficit and continue to grow the economy, energy and climate change, immigration. gun safety. things are stacked up. and so i think that that is going to provide the sort of focus and energy you need and i think his intention is to run through the tape all the way through. >> gun safety has jumped to the top of the president's agenda since newtown and this week the president promised that the weight of his office behind these proposals but we're seeing a lot of resistance from democrats and want to show some of the reaction. senator max baucus "before passing new laws we need a thoughtful debate that respects responsible law abiding gun owners in montana instead of one side fits all directives from washington. sena
not want to do it. he actually does want to negotiate on spending and tax reform. what he does not want to do is have that take place when the republican position on the debt takes the economy hostage. that is off the table. i think the president is smart to be firm and clear on that. next time it would be democrats if we had a republican president. ashley: would you agree, i know it is out of your area, but the senate has not passed a budget in four years now. would you agree with republicans that it is not the way to go and i could, in fact, be breaking the law without i do agree with them. we actually have not passed the budget. i am with them on this concern about our inability to actually do the basic work that a legislature must do. ashley: i know bernanke, timothy geithner, rating agencies and many more states what is the point of a debt ceiling? we routinely raise it anyway. what is the purpose? >> there is no purpose. the debt ceiling has become a device for fiscal irresponsibility. republicans and democrats both dated. senator obama voted against the debt ceiling increase. if
doesn't put tax pay thornse hook for 100% of the cost of projects that are unrelated to hurricane sandy. the amendment waives the standard local cost share for what -- for, quote, ongoing construction projects. this applies to peach renourishment projects which are typically cost shared at a 65% federal, 35% local shear. while the waiving of this local cost share for this type of pradget is uns predent, i understand that for our friends in new jersey, new york, and connecticut, hurricane sandy was also unprecedented. our amendment does not change the language with respect to repairing the beaches damaged by hurricane sandy. but unfortunately, the language could be interpreted to also waive local cost share for future periodic beach replenishment unrelated to any damage caused by hurricane sandy. these typically can take up to over a 50-year period and cans to the tens of millions of dollars. i'm confident that's not what was intended by the amendment as it was offered. but the amendment is necessary to make sure that that's not how it's interpreted at some point in the future. madam cha
. mr. wilson:section 8 the congress shall have power to lay and collect taxes, duties, imposts, and excises, to pay the debts and provide for the common defense and general welfare of the united states, but all duties, imposts, and excises shall be uniform throughout the united states, mr. goodlatte: i now yield to the gentleman from texas, mr. green. mr. green: to borrow money on the credit of the united states, to regulate commerce with foreign nations, and among the several states, and with the indian tribes, to establish an uniform rule of naturalization, and uniform laws on the subject of bankruptcies throughout the united states, mr. goodlatte: i now yield to the gentleman from florida, mr. nugent. mr. nugent:to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures, to provide for the punishment of counterfeiting the securities and current coin of the united states, to establish post offices and post roads, to promote the progress of science and useful arts, by securing for limited times to authors and inventors the excl
of the public and decisions being made about what to spend on, what do tax and so on, are difficult and contentious issues that will take some time to address. >> those issues are not the specific purview of the fed, so why don't we shift gears and talk about some of things the fed is doing and might do. perhaps a way to introduce that is to say that the fed has been keeping interest rates at close to zero since roughly 2008. it has done a pretty deep into its arsenal of very unconventional policies recently in terms of the very massive asset purchases. recently launched its third round, which tended to bring long-term interest rates. can you tell us how well you think that is working? >> to go back one step, as you said, we have brought the short- term interest rates down almost to zer. for years monetary policy involved moving overnight interest rates up and down and open the rest of the interest rates would move in sympathy. then we hit a situation in 2008 where we had brought the short- term rates down as far as it could go, almost to zero. the question is what more could the fe
revenue through tax reform by closing loopholes in our tax code for the wealthiest americans. if we combine a balanced package of savings from spending on health care and revenues from closing loopholes, we can solve the deficit issue without sacrificing our investments in things like education that are going to help us grow. it turns out the american people agree with me. they listened to an entire year's debate over this issue, and they made a clear decision about the approach they prefer. they don't think it's fair, for example, to ask a senior to pay more for his or her health care, or a scientist to shut down lifesaving research so that a multimillionaire investor can pay less in tax rates than a secretary. they don't think it's smart to protect endless corporate loopholes and tax breaks for the wealthiest americans rather than rebuild our roads and our schools, invest in our workers' skills, or help manufacturers bring jobs back to america. so they want us to get our books in order in a balanced way, where everybody pulls their weight, everyone does their part. that's what i w
taxes up to the level where you fund the promises that we've already made. the entitlements that we've already made and the guarantees we've made, they just want to raise taxes on somebody. i don't know who, to the point where we never actually reform medicare, medicaid or social security. >> the question i want to ask him, is there ever a time that he's making, is it now given where we are in the economy? >> well, the question is, you put in a hundred and you take out 400 in medicare and the government covers 300. >> and it makes no sense. >> well, no, but there are people that think that the government's roll is to provide that 300. and so we should raise taxes to the point where you -- it doesn't matter that you -- >> right. >> it doesn't matter. that is the redistribution. >> that's the agal tearan notion or the equality, the fairness in outcome. >> i'll give it to him. we'll ask the question. >> i just hope you got fired up watching lance. >> i'm fired up watching lance. i'm fired up for that interview. >> i can tell he hurt you. i could tell from when you were over there, you
to be about 5 to 7% lower, meaning those people in the exchange that needed a subsidy would take fewer tax dollars and it is also estimated that it would serve as an anchor, because there's competition, to bring down the cost of health care, even in the private sector as well. >> when is the government -- when is the government ever done that? with george bush's plan, you were critical and had a right to be for prescription drug benefit. the argument ises that it would drive down the cost of those drugs. if anything they have soared since that benefit came in because the government cannot act as a source of even buying in bulk for cutting prices. >> that's exactly right. and in fact i'm also supportive of legislation that would allow medicare, just leak the veterans administration to negotiate with the manufacturers, the drug companies, for lower drug prices. and i guess the point is that there are -- >> it doesn't work. didn't work in the case of drug prescriptions. if you were to expand this to care, what -- >> no, no. >> what is the chance you would get more bang for the buck? >> here's
of march. there is no question that these big fiscal issues, taxes and spending are going to define the first quarter of the president's second term. >> george, talk about this term, the second term curse. we -- reagan had iran-contra. nixon, of course, had watergate. clinton had monica lewinsky. but why is it that they tend to go sour. >> lyndon johnson didn't even make it to the second term. he had to resign because of vietnam. ever since roosevelt and the amendment that limited his terms, presidents tend to run out of steam and maybe even get tripped up by scandal in these second terms. i think it's kind of a natural reaction to the fact that power is moving on beyond these presidents because, in fact, they are lame ducks. the obama white house has studied this very, very closely. they know the perils of the second term. they think they can avoid the worst pitfalls. first of all, they are saying there's no scandals on the horizon, but they say they can avoid the worst by having a focused agenda and moving fast. >> we'll see if they can. george, thank you very much. george will ha
to the needs of our time. we must harvest new ideas and technology that we make our government, revamp our tax cuts come reform our schools, and empower our citizens with the skills they need to work harder and learn more and retire. but -- and reach higher. while the means change, the purpose and doors. a nation that rewards the effort and determination of each and every american, that is what this we believe every citizen deserves a measure of dignity. we must make the hard choices to reduce the cost of health care. we reject the belief that america must choose between caring for the generation that built this country and invested in the generation that will build its future. we remember the lessons of our past. twilight years were spent in poverty. a tablet disability had nowhere to turn. we do not believe that freedom is reserved for the lucky or happiness for the few. we recognize that men matter how responsibly we live our lives any one of us at any of our times may face a job loss or a home slipped away in a terrible storm. the commitments we make to each other do not zap our nation, th
country and does washington have enough? how much more must they take from the hard-working americans, tax paying americans who are trying to put their life together every day. i and my colleagues who spoke earlier today believe that washington has enough. we don't need to give her more. mr. speaker, i yield back the balance of my time. thank you. the chair: under the speaker's announced policy of january 3, 2013, the gentleman from california, mr. garamendi, is recognized for 60 minutes as the designee of the minority leader. mr. garamendi: i thank you, mr. speaker. it's good -- it is very, very good that the new 113th congress acted today to reach out in sympathy, compassion and with real support to the people who were so severely impacted by superstorm sandy. one of our colleagues just a moment ago spoke about this nation being at a crossroads, and indeed, we crossed paths many, many times and there are many different crossroads. the people of pennsylvania, new jersey, new york, connecticut and other parts of this great nation here on the east coast, came to a crossroads. that crossroad
on sunday shows looks like the senate might come up with a budget resolution. it includes tax increases. is that the way to solve this thing. >> no, tax increases are not going to solve our problem. ultimately what we have not a revenue problem or a tax problem although our tax code is bloated and distorted and not necessarily complex. we're not going to solve this problem through additional revenue, we'll solve it by change the way we spend money. jon: senator lee. wish you well. it would be interested to see if the balanced budget amendment makes it through this time. i have my doubts. but again, thanks for joining us today. >> thank you. >> something you probably have in your medicine cabinet right now could be a real danger to your eyesight. the brand new study linking a common painkiller to an increased risk of blindness that is coming up next. >>> plus israelis heading to the polls today. will benjamin netanyahu win another term and how the election results for our closest ally in the middle east could affect the region. >> plus what it means for an impending showdown with iran. w
and the issues we deal with in the coast and trying to tie that to the tax base and relate that both from a local regional perspective but also a national perspective. when you look at it, 30% of this nation's g.d.p. comes from the gulf coast. you look at the population increase we've had. since 1970, there has been 109% increase in the gulf coast region. the people are there, the vulnerabilities are there but also it is significant to what it provides to the nation. from the states perspective and also from the gulf we recognize that healthy ecosystems also can mean healthy economies. from louisiana, what we have taken -- what we believe is a very good first effort the addressing the vulnerabilities that exist in reducing that risk is with the state's matter of fact plan which is a long- term plan to reduce the economic significance and reduce the risk across the coast. we believe we can achieve protection for all coastal communities. it is that resource that is important. the states provide and the gulf provides to the nation, it if it is going to be afforded through the nation. we believe with
economy and to provide a larger tax base. common sense immigration reform is an important way to address tour changing demographics -- our changing demographics as an aging society. look at me, you'll understand that. we can't harvest our food, care for our sick or sustain our military without immigrants and temporary workers. our current work visa laws contain arbitrary caps that have absolutely no connection to what's happening in the real world. there are very serious limits in scope and difficulty in implementation in these current rules. surely we can do better. in fact, we have to do better if we're going to have the workers we need. what we need is this: a lawful, rational and workable immigration system that secures our borders, provides the workers we need at all skill levels and protects the rights of citizens both undocumented and those legally pursuing citizenship. we believe immigration reform should include the following interrelated components: we must secure our borders and enable people and commerce to flow efficiently and lawfully in and out of our country. we've made s
of the risks that the fiscal cliff pose. tax increases and spending cuts to that size, the cbo and others estimated that unemployment would rise and we very well might go back into a recession. so the challenge is to achieve long run sustainability without unduly hampering the recovery which we have. the deal that was struck, together with the previous work in 2011 that involved some spending cuts made some progress in both of these goals. on longer and sustainability, over the next decade or so, we have seen some movement toward stability in terms of the debt to gdp ratio. more work can be done, for sure. and then, on the short run, the fiscal cliff deal on new year's eliminated a good bit of the components of the fiscal policy that would have had such bad effects. not completely, but it was a good start. so there was a bit of progress on both of these goals. but i should hasten to say that we are not out of the woods because we are approaching a number of other fiscal critical watersheds coming up. we have the funding of the government, the so-called sequester, number of spending cuts t
to the national government. we allowed taxes and inflation to rob us of our earnings and savings and watched the great industrial machine slow down at the number of unemployed increase. by 1980 we knew it was time to renew our faith, to stride with all our strength for individual freedom consistent with orderly society. we believe then and now, there are no limits to growth and human progress when men and women are free to follow their dreams. and we were right. host: to a live view on pennsylvania avenue. that speech was delivered by ronald reagan. his inauguration day fell on a sunday. what a difference that speech inside as the temperature on that date, 7 degrees. the windchill was 20 below. it tells you about the quality of the speaker, it sounded like it was written for an intimate setting. with his softer tones which does not hold a lot of people in that room. he had been delivering that outside it probably wouldville sounded good. i remember the story about reagan and he was in the oval office for the first time. they brought in tv cameras to get pictures of the new president at the n
out with an ad targeting people in new york, by the way we don't have the state income tax in texas and also more money in your pocket so you can buy more ammo. which i thought was a pretty interesting appeal-- >> sean. >> sean: go ahead. >> i was born in new york. i was born 20 miles southwestern new york where a crazed gunman shot two, two volunteer firefighters. this is the same guy, sean, that 20-some odd years ago he bludgeoned his mom to death with a hammer and so badly the coroner couldn't recognize her. they sentham to jail and he got out. and go figure, got a gun, three weeks ago, woke up one morning with his house on fire, laid in wait behind some bushes for volunteer firefighters to arrive and the shot two of them dead and rather than sheldon silver the speaker of the house looking in the mirror and saying this is my fault for not making harsher punishment against these criminals, what do they do? they institute a weapons ban. i mean, it's just ridiculous and of all the foolish things they weren't smart enough to exempt their own police officers from it. >> can i speak to
represents the values and priorities of the public and the decisions being made about what to spend and tax and someone, they are very difficult and contentious decisions that take time to address. >> , those issues, of course, are not the specific purview and why don't we shift gears and talk more explicitly about some of the things that the fed is doing and things that the fed might do. perhaps a way to introduce that is to say that that is in keeping interest rates close to zero, since it has dug pretty deep into an unconventional policy. asset purchases are meant to help in the short term. can you explain that? >> well, monetary policy involved the overnight interest rate up and down and hoping that the rest of the interest rates would move in sympathy. then we get a situation in 2008 where we had dropped the short-term rate down about as far as it could go come almost entirely to zero. so the question is what work did the fed do. there are many people a decade ago event a lot of articles about how the fed would be out of ammunition if they got down to zero. a lot of work by academics a
. obama demands the wealthy pay their fair of tax but he is another elitist hypocrite when it comes to his fair share of children. >> jennifer: honestly? who is advising these guys? it is unbelievable. it's my hope that this congress will take action at the request of the president, the majority of americans, and mothers like the one from nowtown. joining me is california representative jackie speier. she served as the vice chair of vice president biden task force which issued the recommendations that resulted in the executive orders and the call to action today. jackie welcome back inside "the war room." >> it's a pleasure to be here. >> jennifer: you have to be encouraged by the force with which the president spoke today. >> he was very powerful. but like you just spoke, my eyes just welled up with tears because there is not a mother on this planet who doesn't feel her pain. but she has really put in words something that we have got to keep in our minds. those coffins moving through those towns their burial are sered in my memory, and i'm one of those that is no
. unemployment is lower. 3% difference. income tax, there is none in texas. 9% in california. no corporate tax. so there is job creation. so california lost over the past ten-year a couple million people. half a million people moved in to texas. >> gretchen: one of the big arguments has been that california will continue to not be able to pay its bills because people like that who are employable are leaving so they're losing their tax base. >> they pay their politicians so much, some towns have gone bankrupt. san bernardino. we sent kennedy, a special correspondent from my show to the mayor's office looking for answers. >> i walked down an empty hallway looking for the mayor, looking for anyone. i felt like i was in a horror movie. it was creepy. i found an empty conference room and decided i would take over as mayor. show of hands? all right. not all at once. busy day. we have a lot of problems. lot of people out of work. lot of businesses with shuttered doors. i don't hear any answers from any of you! >> steve: the lights are on, but nobody is home. >> they were in there. she couldn't find t
with tax cuts? >> as i just said, we are doing more to help elderly and the vulnerable. a record state increase, bigger than what the party opposite would have done keeping cold weather payments at the higher level that the last government only introduced before the election. keeping our promise on winter fuel payments, taking all of those steps and making sure, again, something never done by the party opposite that energy companies will have to put people on the lowest tariffs. that is a record we can be proud of. >> steve basic. >> mr. speaker -- [inaudible] my constituency is enb during a hideous regulatory fast thanks to the health and safety executive and the european union. the british economy is very reliant on small and medium businesses far less able to cope with bad regulation particularly when it's badly administer inside the u.k. >> my honorable friend is absolutely right. businesses large and small are complaining about the burden of regulation. not just the burden of regular ration from europe -- regulation from europe, but more generally. and that is why we should be fig
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